Details of Aviva Annuity Plus and ICICI Pru Immediate Annuity

Comparison of the plans can be based on details of Aviva Annuity Plus and ICICI Pru Immediate Annuity like eligibility criteria, policy term, returns etc. for these two plans. Both these policies are of the type Annuity Plans. First policy is provided by Aviva India (Claim settlement ratio is 83.00%) and second policy is provided by ICICI Prudential Life insurance (Claim settlement ratio is 94.00%). Claim settlement ratio provides a percentage of ratio of claims payed by the company to the number of claims received by the company. Aviva Annuity Plus can be bought online and ICICI Pru Immediate Annuity Plan cannot be bought online. Plans that can be bought online have an added advantage as it saves one from the hassle of going to the agent and then buying insurance policies.

Eligibility criteria for Aviva Annuity Plus and ICICI Pru Immediate Annuity define the minimum/maximum entry age and minimum/maximum vesting age for these two plans. Eligibility and vesting age are main aspects of Aviva Annuity Plus and ICICI Pru Immediate Annuity details. Vesting age is also known as maturity age i.e. the age when your policy matures and you can acquire its benefits. For the former insurance plan, minimum entry age is 50 years and maximum entry age is 80 years. Also,minimum vesting age is not available whereas maximum vesting age is not mentioned. Similarly for the later insurance plan, minimum entry age is 45 years and maximum entry age is 100 years. Also for the second plan, minimum vesting age is not available whereas maximum vesting age is not mentioned.

Policy Term Details

Policy term details for Aviva Annuity Plus and ICICI Pru Immediate Annuity Plan include the minimum and maximum policy terms for the said insurance plans. Policy term is a time period during which an insurance policy is valid. After completion of policy term, one can renew the policy or get sum assured by terminating the policy. For Aviva Annuity Plus, minimum policy term is not mentioned and maximum policy term is not mentioned Similarly for ICICI Pru Immediate Annuity Plan, minimum policy term is 5 years and maximum policy term is 15 years.

Returns From Aviva Annuity Plus and ICICI Pru Immediate Annuity

Sum assured is a part of returns from Aviva Annuity Plus and ICICI Pru Immediate Annuity. Sum assured is the amount of money you receive along with applicable bonus at the end of the policy term. In event of your untimely demise before the end of the policy term, your family will receive this money. Depending on the type of plan, returns may or may not be fixed. Variable returns can be in terms of Aviva Annuity Plus and ICICI Pru Immediate Annuity Plan Benefits. For the former plan, minimum sum assured is not mentioned in the plan and maximum sum assured is not provided in the plan.Similarly, for the later plan, minimum sum assured is ₹ 100 and maximum sum assured is not mentioned in the plan. Sometimes, a fixed sum assured is not available but a variable sum assured depending upon the policy term you choose, the amount of money you pay as premium, etc. is provided by the insurer. Benefits of group plans maybe somewhat different. Some plans require medical examination before you buy the policy.